Neuronetics Stock Drops As Traders Watch New TMS Research Effort
Neuronetics shares fell 5.7% to $1.575 Tuesday after the company announced new NeuroStar data will be presented at the Clinical TMS Society meeting this week. The stock drop comes as investors remain concerned about cash and debt issues highlighted in the company’s recent quarterly filing. Trading volume reached about 785,000 shares. Neuronetics reported a Q1 net loss of $10.8 million and $13.2 million in cash as of March 31.